A Union Budget is approaching, and once again the issue of imposing long-term capital gains tax on equity has come up. A newspaper report earlier this week claimed that such a tax - abolished in 2005 - was actively being considered by the finance ministry. Predictably, there was a chorus of protests.
Exactly a year ago, the same thing had happened, except that at the time, the story began with a public statement from the Prime Minister himself. On 24th December, 2016, in a speech ..
